Enphase Energy (NASDAQ:ENPH) Trading 2.5% Higher – Time to Buy?

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) rose 2.5% during trading on Friday . The stock traded as high as $62.30 and last traded at $62.22. Approximately 858,849 shares traded hands during trading, a decline of 79% from the average daily volume of 4,055,289 shares. The stock had previously closed at $60.71.

Analysts Set New Price Targets

Several research firms have weighed in on ENPH. The Goldman Sachs Group dropped their price objective on shares of Enphase Energy from $121.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. TD Cowen cut their price objective on Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, January 27th. Craig Hallum reduced their price objective on Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. OTR Global raised Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Finally, Susquehanna reduced their price target on Enphase Energy from $79.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $90.36.

Enphase Energy Stock Up 1.5 %

The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 83.31 and a beta of 2.12. The business’s 50-day moving average is $62.24 and its 200-day moving average is $75.68. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, equities analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the transaction, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Siemens Fonds Invest GmbH acquired a new position in shares of Enphase Energy during the fourth quarter valued at $289,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Enphase Energy during the 4th quarter worth about $18,580,000. Fourth Dimension Wealth LLC acquired a new position in Enphase Energy during the 4th quarter valued at about $103,000. Voloridge Investment Management LLC bought a new position in shares of Enphase Energy in the 4th quarter valued at about $32,251,000. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of Enphase Energy by 531.4% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company’s stock worth $55,342,000 after buying an additional 678,163 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.